It's important to keep updated on the latest information available regarding Hawaii's real estate market. The Maui Real Estate Activity Report for third quarter 2008 covers single family and condominium sales activity for Maui.
Here are some highlights:
- The third quarter of 2008 saw fewer real estate transactions compared to the third quarter of last year, with 6.2% less single-family homes and 44.6% fewer condominiums sold.
- Single-family home prices experienced a drop of 4.0% to $600,000 compared to last year.
- Condominium median prices dropped 5.8% to $525,000.
- Median price increases occurred for single-family homes in the Wailea/Makena area, Hana, Lahaina and the Kula/Ulupalakua/Kanaio areas.
-Condominium median prices continue to increase in the Wailea/Makena area due to new development closings from 2006.
Resales Median Price for all of Maui real estate:
RESALES
June-Sept 08 [Single Family 228] [Condo 164] -6.1% change
June-Sept 07 [Single Family 243] [Condo 296] -44.6% change
MEDIAN PRICE
June-Sept 08 [Single Family $600k] [Condo $525k] -4% change
June-Sept 07 [Single Family $625k] [Condo $557k] -5.7% change
So How does this affected YOU in the Market?
Hawaii's changing real estate environment affects buyers, sellers and investors in different ways offering each a unique set of advantages and challenges. The following chart highlights the roles and outlook of buyers, sellers, homeowners, renters, flippers and long time investors, and also provides insight on how each can better survive and succeed.
If you would like to read the full report, please click HERE.
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